©
2020
Earnings season continued Tuesday with TRV, PG reporting EPS before the open and both had a positive reaction. After the close NFLX, TXN, IBKR and SNAP reported EPS.
NDX +43.49, +0.37%, gapped up Tuesday morning, trading in a range and pulled back during the last 90 minutes as stimulus talks progressed but remained unresolved. NDX closed at 11,677. The move was led by weakness in TSLA, NFLX and INTC. NDX is a bull flag price pattern.
SPX +16.20, +0.47%, closes at 3,443. SPX is a 6-day pullback bull flag price pattern.
Ten of eleven sectors were higher on Tuesday, led by XLE, XLF and XLY.
Energy leaders: PNW, EIX, FE, PEG
Financial leaders: IP, WRK, LYB
SPY up +1.37 at 343.38 on 60.0 million shares, below average volume, up on lower volume.
VIX up +0.17 at 29.35
TRV, WBA, AAPL, KO led the DJIA, 24 advancers, +23
The two-year trend term is up. The one-year trend is up.
Up: SPY, DIA, IWM, QQQ,
Breadth strengthened on Tuesday as advancers led 2,061 to 949 on the NYSE and led 1,894 to 1,599 on the NASDAQ
The SPY MFC green line is turned down at 70.4 and is defensive. Price action is a 6-day bull flag pullback.
Uptrend sectors: XLI, XLU, XLY, XLB, XLP, XLK, XLV, XLC,
Down trend sectors: XLE,
The 6-month intermediate trend is up. The ten-day trend is up a little.
3-month Intermediate Term Market Trend: Up
3-day Short Term Market Trend: Down a little
59 of 100 NDX stocks closed higher on Tuesday.
76 NDX stocks are above their 30 DMA: AVGO, ZM, ALXN, SGEN, WDAY, CDW, CPRT, CTAS, CTSH, IDXX, INTC, MRNA, NVDA, PAYX, QCOM, SBUX, SNPS, ADP, COST, LRCX, SWKS, TXN, XLNX, AMD, KLAC, BIDU, DOCU, NFLX, NXPI, XEL, SIRI, AMAT, CERN, EXC, MCHP, MELI, MXIM, PCAR, REGN, SPLK, ADBE, ADI, ALGN, ANSS, ASML, BMRN, CDNS, CHKP, CSX, ILMN, INTU, ISRG, JD, LULU, MU, PEP, PYPL, WDC, ADSK, AMZN, DLTR, ULTA, VRSK, AAPL, EBAY, MDLZ, MSFT, GOOGL, KHC, PDD, TTWO, ORLY, WBA, CTXS, FAST, FB,
NDX Stocks to Watch on Wednesday:
Moving Above 30 DMA = 3
Moving Below 30 DMA = 5
ATVI, CSCO, DXCM, EA, TSLA,
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Earnings season continued Tuesday with TRV, PG reporting EPS before the open and both had a positive reaction. After the close NFLX, TXN, IBKR and SNAP reported EPS.
NDX +43.49, +0.37%, gapped up Tuesday morning, trading in a range and pulled back during the last 90 minutes as stimulus talks progressed but remained unresolved. NDX closed at 11,677. The move was led by weakness in TSLA, NFLX and INTC. NDX is a bull flag price pattern.
SPX +16.20, +0.47%, closes at 3,443. SPX is a 6-day pullback bull flag price pattern.
Ten of eleven sectors were higher on Tuesday, led by XLE, XLF and XLY.
Energy leaders: PNW, EIX, FE, PEG
Financial leaders: IP, WRK, LYB
SPY up +1.37 at 343.38 on 60.0 million shares, below average volume, up on lower volume.
VIX up +0.17 at 29.35
TRV, WBA, AAPL, KO led the DJIA, 24 advancers, +23
The two-year trend term is up. The one-year trend is up.
Up: SPY, DIA, IWM, QQQ,
Breadth strengthened on Tuesday as advancers led 2,061 to 949 on the NYSE and led 1,894 to 1,599 on the NASDAQ
The SPY MFC green line is turned down at 70.4 and is defensive. Price action is a 6-day bull flag pullback.
Uptrend sectors: XLI, XLU, XLY, XLB, XLP, XLK, XLV, XLC,
Down trend sectors: XLE,
The 6-month intermediate trend is up. The ten-day trend is up a little.
3-month Intermediate Term Market Trend: Up
3-day Short Term Market Trend: Down a little
59 of 100 NDX stocks closed higher on Tuesday.
76 NDX stocks are above their 30 DMA: AVGO, ZM, ALXN, SGEN, WDAY, CDW, CPRT, CTAS, CTSH, IDXX, INTC, MRNA, NVDA, PAYX, QCOM, SBUX, SNPS, ADP, COST, LRCX, SWKS, TXN, XLNX, AMD, KLAC, BIDU, DOCU, NFLX, NXPI, XEL, SIRI, AMAT, CERN, EXC, MCHP, MELI, MXIM, PCAR, REGN, SPLK, ADBE, ADI, ALGN, ANSS, ASML, BMRN, CDNS, CHKP, CSX, ILMN, INTU, ISRG, JD, LULU, MU, PEP, PYPL, WDC, ADSK, AMZN, DLTR, ULTA, VRSK, AAPL, EBAY, MDLZ, MSFT, GOOGL, KHC, PDD, TTWO, ORLY, WBA, CTXS, FAST, FB,
NDX Stocks to Watch on Wednesday:
Moving Above 30 DMA = 3
Moving Below 30 DMA = 5
ATVI, CSCO, DXCM, EA, TSLA,
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1 comment:
Appreciate your blog, Dave. Thank you.
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